Simpson Thacher Represents Initial Purchasers in $1 Billion Senior Notes Offering by Owens-Brockway Glass Container Inc.
09.08.15
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Simpson Thacher recently represented the initial purchasers, led by Deutsche Bank Securities Inc., in connection with Owens-Brockway Glass Container Inc.’s (the “Issuer”) private offering of $700 million aggregate principal amount of 5.875% Senior Notes due 2023 and $300 million aggregate principal amount of 6.375% Senior Notes due 2025. The notes are guaranteed by Owens-Illinois Group, Inc. (“OI Group”) and by certain of OI Group’s domestic subsidiaries. The Issuer used the proceeds from the offering to fund, in part, the acquisition of the food and beverage glass containers business of Vitro, S.A.B. de C.V. and its subsidiaries as conducted in the United States, Mexico and Bolivia and to pay related fees and expenses.
OI Group, through its subsidiaries, is the successor to a business established in 1903. OI Group is the largest manufacturer of glass containers in the world with 75 glass manufacturing plants in 21 countries.
The Simpson Thacher team included Marisa Stavenas, Matthew Levy, Joey Mayer and Clark Warthen (Capital Markets); Marcy Geller and George Davis (Tax); Adeeb Fadil and Louise Kruger (Environmental); Aimee Adler and Holly Gurian (Executive Compensation and Employee Benefits); Marcela Robledo and Michelle Morad (Intellectual Property); and Jennie Getsin (Blue Sky).